replaceable
Able to be swapped with another without much difference.
Replaceable means able to be substituted or exchanged for something else without a significant loss. When a battery in your flashlight is replaceable, you can pop in a new one when the old one dies. When a part in a machine is replaceable, you can swap it out instead of buying a whole new machine.
The word often describes things designed to be swapped out: replaceable lightbulbs, replaceable printer cartridges, replaceable guitar strings. Engineers design products with replaceable parts to make repairs easier and less expensive.
When people say someone is replaceable at a job, they mean that person could be substituted without major problems. This sounds harsh, but it's often just a practical reality: if a cashier quits, the store can train someone new. However, the word takes on a different meaning in relationships and friendships. Your best friend isn't replaceable because they're unique. No one else has their exact personality, memories with you, or way of making you laugh.
The opposite is irreplaceable, meaning impossible to substitute. A family photo destroyed in a fire is irreplaceable. You can't get those exact moments back. Your favorite stuffed animal from childhood might be irreplaceable even if the toy company still makes that model, because yours carries specific memories and meaning that a new one simply couldn't have.